AudioEye (NASDAQ:AEYE) Price Target Raised to $37.00

AudioEye (NASDAQ:AEYE) had its price objective lifted by HC Wainwright from $28.00 to $37.00 in a research report sent to investors on Monday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on AEYE. Roth Mkm restated a “buy” rating and set a $35.00 price target (up from $25.00) on shares of AudioEye in a research report on Friday, November 8th. Craig Hallum boosted their price target on shares of AudioEye from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $30.13.

AudioEye Stock Down 1.0 %

Shares of NASDAQ AEYE opened at $26.16 on Monday. The company’s 50-day simple moving average is $23.59 and its 200-day simple moving average is $22.00. AudioEye has a 52-week low of $3.97 and a 52-week high of $34.85. The firm has a market cap of $318.58 million, a price-to-earnings ratio of -96.89, a price-to-earnings-growth ratio of 7.63 and a beta of 1.03. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92.

Insiders Place Their Bets

In other AudioEye news, CEO David Moradi sold 14,061 shares of AudioEye stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $26.14, for a total transaction of $367,554.54. Following the transaction, the chief executive officer now directly owns 2,764,290 shares of the company’s stock, valued at $72,258,540.60. The trade was a 0.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kelly Georgevich sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the completion of the sale, the chief financial officer now directly owns 88,981 shares in the company, valued at $2,580,449. This trade represents a 10.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,859 shares of company stock valued at $2,684,480 over the last ninety days. Company insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On AudioEye

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Partners Public Asset Management LLC raised its stake in shares of AudioEye by 24.5% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock valued at $11,774,000 after acquiring an additional 101,302 shares during the period. Vanguard Group Inc. grew its holdings in shares of AudioEye by 2.3% in the first quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock valued at $3,095,000 after purchasing an additional 6,929 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of AudioEye by 202.5% in the second quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock valued at $1,065,000 after purchasing an additional 40,500 shares in the last quarter. ClariVest Asset Management LLC acquired a new position in shares of AudioEye in the second quarter valued at approximately $664,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of AudioEye by 58.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,824 shares of the company’s stock valued at $841,000 after purchasing an additional 13,556 shares in the last quarter. 51.11% of the stock is owned by hedge funds and other institutional investors.

About AudioEye

AudioEye, Inc provides patented, internet content publication, distribution software, and related services to Internet and other media to people regardless of their device, location, or disabilities in the United States. Its software and services enable conversion of digital content into accessible formats and allows for real time distribution to end users on any Internet connected device.